average daily volume submitted to CLS
September 2026 activity across spot, forwards, and swaps submitted to CLS. This measures CLS activity, not total global FX turnover.
Source: CLS, FX trading activity, September 2026, published October 15, 2026 →Reference page
Forex Market Statistics
A source-linked snapshot of the global currency market, built for learners, writers, and anyone who wants the numbers before the noise.
Last updated October 23, 2026. Includes September 2026 CLS activity, published October 15, alongside the latest available global and North American survey results.
What this page measures
Foreign exchange is larger and more institutional than most new traders realize.
These figures describe over-the-counter foreign exchange activity reported by CLS, the Bank for International Settlements, and the Foreign Exchange Committee. They measure market turnover, not the outcomes of individual retail traders or the value of open positions.
Monthly activity and survey benchmarks cover different markets and periods. They should not be added together or treated as directly comparable. Each statistic links to its source and identifies its reporting period.
Latest monthly report
September 2026: activity submitted to CLS
Published October 15, 2026. These figures cover trades submitted to CLS, rather than the whole global Forex market.
year-over-year growth in CLS daily volume
CLS reported this increase for September 2026 compared with September 2025.
Source: CLS, FX trading activity, September 2026, published October 15, 2026 →average daily spot volume submitted to CLS
CLS reported $0.694 trillion in daily spot activity for September 2026, a 26.1% increase from September 2025.
Source: CLS, FX trading activity, September 2026, published October 15, 2026 →Survey benchmarks
Global market structure and North American activity
The global survey measures April 2025 activity, with final results released in June 2026. The latest published North American survey measures April 2026 activity and was released August 11, 2026. October 2026 survey results had not been published by October 23, 2026.
average daily global FX turnover
The finalized survey put over-the-counter foreign exchange turnover at $9.51 trillion a day in April 2025.
Source: Bank for International Settlements, 2025 Triennial Central Bank Survey, final results, June 2026 →growth since the 2022 global survey
Average daily turnover rose from $7.5 trillion in April 2022 to $9.51 trillion in April 2025.
Source: Bank for International Settlements, 2025 Triennial Central Bank Survey, final results, June 2026 →daily spot-market turnover
Spot FX accounted for $2.95 trillion of average daily turnover in April 2025.
Source: Bank for International Settlements, 2025 Triennial Central Bank Survey, final results, June 2026 →daily FX-swap turnover
FX swaps remained the largest instrument category, at $4.02 trillion a day in April 2025.
Source: Bank for International Settlements, 2025 Triennial Central Bank Survey, final results, June 2026 →daily outright-forward turnover
Outright forwards accounted for $1.75 trillion of average daily turnover in April 2025.
Source: Bank for International Settlements, 2025 Triennial Central Bank Survey, final results, June 2026 →of FX trades involved the U.S. dollar
Because each trade has two currency sides, currency shares add to more than 100%.
Source: Bank for International Settlements, 2025 Triennial Central Bank Survey, final results, June 2026 →shares for the euro, yen, and sterling
These were the next three most-traded currencies after the U.S. dollar in April 2025.
Source: Bank for International Settlements, 2025 Triennial Central Bank Survey, final results, June 2026 →top currency pairs involved the U.S. dollar
The ten most-traded currency pairs in the global survey all included the U.S. dollar.
Source: Bank for International Settlements, 2025 Triennial Central Bank Survey, final results, June 2026 →daily turnover with other financial institutions
This category accounted for 48.6% of global FX turnover in April 2025.
Source: Bank for International Settlements, 2025 Triennial Central Bank Survey, final results, June 2026 →of trading passed through four financial centers
Sales desks in the United Kingdom, United States, Singapore, and Hong Kong accounted for three quarters of global FX trading in April 2025.
Source: Bank for International Settlements, 2025 Triennial Central Bank Survey, final results, June 2026 →daily retail-driven FX turnover
The finalized global survey reported $241.99 billion in retail-driven turnover a day in April 2025.
Source: Bank for International Settlements, 2025 Triennial Central Bank Survey, final results, June 2026 →of turnover executed electronically
Direct and indirect electronic execution together accounted for $5.54 trillion of average daily turnover in April 2025.
Source: Bank for International Settlements, 2025 Triennial Central Bank Survey, final results, June 2026 →average daily North American FX turnover
The April 2026 North American survey covered spot, forwards, swaps, and options reported by 20 leading institutions.
Source: Foreign Exchange Committee, North American FX Volume Survey, published August 11, 2026; survey period April 2026 →North American turnover growth since October 2025
Average daily North American FX volume was 5.9% higher in April 2026 than in the October 2025 survey period.
Source: Foreign Exchange Committee, North American FX Volume Survey, published August 11, 2026; survey period April 2026 →institutions in the North American survey
Twenty leading institutions active in the North American market participated in the April 2026 survey.
Source: Foreign Exchange Committee, North American FX Volume Survey, published August 11, 2026; survey period April 2026 →Methodology and sources
How to read these numbers.
The global figures come from the Bank for International Settlements Triennial Central Bank Survey, which measured over-the-counter foreign exchange activity in April 2025. The finalized results were released in June 2026. The North American figures come from the Foreign Exchange Committee's April 2026 volume survey, published August 11, 2026.
The newer monthly figures come from CLS's September 2026 activity report, published October 15, 2026. CLS reports its own submitted trading activity, not a replacement estimate of global market turnover. Dollar amounts are in U.S. dollars; T means trillion and B means billion.
- Bank for International Settlements, 2025 Triennial Central Bank Survey, final results, released June 2026 →
- Foreign Exchange Committee, North American FX Volume Survey, published August 11, 2026; survey period April 2026 →
- CLS, FX trading activity, September 2026, published October 15, 2026 →
Cite this page
Trading Friends Forex Education Center. “Forex Market Statistics.” Updated October 23, 2026. https://tradingfriends.org/forex-market-statistics
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